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norske skogindustrier asa (NSG) Details

Norske Skogindustrier ASA, together with its subsidiaries, manufactures, distributes, and sells publication paper. It operates through two segments, Publication Paper Europe and Publication Paper Australasia. The company produces and sells newsprint paper that consists of standard newsprint and other paper qualities used in newspapers, inserts, catalogues, etc.; and magazine paper, which includes super calendared, machine finished coated, and light weight coated paper products for use in magazines, periodicals, catalogues, and brochures, as well as book and directory papers under the NOR brand. Norske Skogindustrier ASA was founded in 1962 and is headquartered in Skøyen, Norway.

norske skogindustrier asa (NSG) Key Developments

Norske Skog Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Jul 16 15

Norske Skog reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported operating revenue was NOK 2,786 million against NOK 3,018 million a year ago. Operating loss was NOK 343 million against operating earnings of NOK 76 million a year ago. Loss before income taxes was NOK 596 million against NOK 211 million a year ago. Loss for the period attributable to owners of the parent was NOK 571 million against NOK 148 million a year ago. Net cash flow used in operating activities was NOK 252 million against NOK 252 million a year ago. Purchases of property, plant and equipment and intangible assets were NOK 48 million against NOK 29 million a year ago. Gross operating earnings (EBITDA) were NOK 138 million against NOK 251 million a year ago. The net loss of NOK 571 million in the second quarter of 2015 was significantly impacted by negative other gains and losses amounting to NOK 276 million. Net debt was NOK 7,531 million, an increase from NOK 6,952 million a year ago. Operating revenue declined year-over-year with low capacity utilisation in a challenging competitive environment. Compared to the previous quarter, revenue decreased with NOK appreciation and reduced higher price LWC sales following ceased support to operations at Walsum in Germany.
For the period, the company reported operating revenue was NOK 5,672 million against NOK 5,885 million a year ago. Operating loss was NOK 227 million against operating earnings of NOK 84 million a year ago. Profit before income taxes was NOK 113 million against loss before income taxes of NOK 272 million a year ago. Profit for the period attributable to owners of the parent was NOK 91 million against loss attributable to owners of the parent of NOK 193 million a year ago. Net cash flow used in operating activities was NOK 770 million against NOK 256 million a year ago. Purchases of property, plant and equipment and intangible assets were NOK 75 million against NOK 146 million a year ago.

Norske Skogindustrier ASA, Q2 2015 Earnings Call, Jul 16, 2015

Jun 29 15

Norske Skogindustrier ASA, Q2 2015 Earnings Call, Jul 16, 2015

Norske Skog Discontinues Operations at the Walsum Mill in Duisburg

Jun 5 15

In 2015, Walsum's cash flow to the Norske Skog group has been negative with up to NOK 10 million per month. Therefore, the board of Norske Skog has decided to discontinue operations at Walsum in order to prevent further losses for the group. There are 291 employees at the mill, which has an annual production capacity of 205,000 tons of light-weight coated (LWC) paper. Walsum has recently had a significant negative cash flow, a trend unlikely to reverse given the unfavorable cost position.

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